The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Philip Morris International Inc. (NYSE: PM) who purchased shares between July 26, 2016 and December 20, 2017. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that (1) there were irregularities in the clinical experiments that underpin Philip Morris' application to the FDA for approval of its iQOS smoking device; and (2) consequently, defendants' statements about Philip Morris' business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until February 20, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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